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Canada Profile |
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| Population |
Immigrants now account for more than 70% of all Canadian labour force growth, a proportion that will grow to 100% in the next 10 years. Canada 's recent immigration levels have been double those of the United States , with priority given to high-skill workers. According to the 2004 World Competitiveness Yearbook , Canada has the highest percentage of individuals achieving at least college or university education among those countries surveyed. Population 2004
Total Population 31,946,300 |
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| Geographic Features |
Canada is the second largest country in the world, covering the entire northern part of the North American continent except for Alaska (the provinces of British Columbia and Ontario are each four times as large as Great Britain ). The land area is 9,093,507 sq. km (excluding freshwater areas). Surrounded by the Arctic , Atlantic and Pacific Oceans , Canada has the world's longest coastline (243,792 km). The southernmost point of land, Point Pelee in Ontario, is farther south than Rome while the northernmost tip of land on Ellesmere Island is close to the North Pole. Canada shares a common border with the United States of America that stretches across 8,893 km. Of Canada 's 20 largest cities, 17 are within an hour and a half drive of the U.S. border. In the centre of the country, the climate is continental with warm summers (July average 15-25°C) and cold, snowy winters (January average -16 to -6 °C). The maritime climates of the east and west coasts tend to be somewhat milder in winter and cooler in summer.
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| Economic Activity |
In 2003-04, Canada reported its seventh consecutive budget surplus and its eighth consecutive balanced budget. The excellent fiscal situation and low inflation has led to lower interest rates. Canada achieved exceptionally strong employment growth between 1997 and 2004—by far the best in the G7 and nearly double the pace recorded in the United States . In 2003, Canada had the second highest employment rate (proportion of Canadians between ages of 15 and 64 with a job) in the G7.
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Tax System |
Canada has the best corporate income tax rates for research and development operations and one of the lowest corporate income tax rates for manufacturing operations. In 2000, Canada introduced a Five-Year, $100B Tax Reduction Plan, the largest tax cut in Canadian history. The Plan reduced the general rate of corporate income tax to 21%, down from 28%. Small businesses are taxed at much lower levels: federal tax in 2004 was 13.12% on income up to $250,000 (rising to $300,000 in 2005). Besides income and capital taxes, the federal government and nine of the 10 provinces collect a consumption tax on goods and services. The federal goods and services tax (GST) of 7% is a type of value-added tax.
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| Foreign Trade Structure |
Foreign direct investment in Canada has more than doubled since 1990. Increasingly more foreign investment in Canada goes to knowledge-based industries in high-tech manufacturing such as electronics, communications and chemicals.
Foreign Trade by Industry
(millions of $)
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Exports 2004 |
Imports 2004 |
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Value |
Share |
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Value |
Share |
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Automobile and
light-duty motor vehicle manufacturing |
56,712 |
13.8% |
Automobile and
light-duty motor vehicle manufacturing |
28,787 |
8.1% |
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Oil and gas extraction |
52,440 |
12.7% |
Oil and gas extraction |
18,669 |
5.3% |
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Sawmills and wood
preservation |
12,273 |
3.0% |
Computer and
peripheral equipment manufacturing |
13,038 |
3.7% |
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Paper mills |
11,967 |
2.9% |
Other motor vehicle
parts manufacturing |
12,548 |
3.5% |
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Petroleum refineries
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11,809 |
2.9% |
Pharmaceutical and
medicine manufacturing |
9,485 |
2.7% |
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Aerospace product and
parts manufacturing |
10,751 |
2.6% |
Motor vehicle gasoline
engine and engine parts manufacturing |
8,870 |
2.5% |
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Alumina and aluminum
production and processing |
7,572 |
1.8% |
Navigational,
measuring, medical and control instruments manufacturing |
7,939 |
2.2% |
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Non-ferrous metal
(except aluminum) smelting and refining |
7,330 |
1.8% |
Semiconductor and
other electronic component manufacturing |
7,934 |
2.2% |
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Pulp mills |
7,154 |
1.7% |
Aerospace product and
parts manufacturing |
7,243 |
2.0% |
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Veneer, plywood and
engineered wood product manufacturing |
6,993 |
1.7% |
Motor vehicle
transmission and power train parts manufacturing |
7,132 |
2.0% |
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Other exports |
226,354 |
55.0% |
Other imports |
233,593 |
65.8% |
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Foreign Trade by Country
(millions of $) |
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Exports 2004 |
Imports 2004 |
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Value |
Share |
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Value |
Share |
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United States |
348,186 |
84.6% |
United States |
208,873 |
58.8% |
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Japan |
8,529 |
2.1% |
China |
24,084 |
6.8% |
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United Kingdom |
7,608 |
1.8% |
Mexico |
13,404 |
3.8% |
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China |
6,614 |
1.6% |
Japan |
13,366 |
3.8% |
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Mexico |
2,975 |
0.7% |
United Kingdom |
9,646 |
2.7% |
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Germany |
2,660 |
0.6% |
Germany |
9,416 |
2.7% |
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France |
2,372 |
0.6% |
South Korea |
5,822 |
1.6% |
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South Korea |
2,256 |
0.5% |
France |
5,326 |
1.5% |
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Belgium |
2,105 |
0.5% |
Norway |
4,954 |
1.4% |
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Netherlands |
2,009 |
0.5% |
Italy |
4,570 |
1.3% |
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Rest of the World |
26,041 |
6.3% |
Rest of the World |
55,777 |
15.7% |
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Foreign Direct Investment Stocks by Industry
(millions of $) |
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Inward 2003 |
Outward 2003 |
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Value |
Share |
Value |
Share |
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Wood and paper
industry |
15,159 |
4.2% |
8,315 |
2.1% |
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Energy |
61,690 |
17.3% |
40,210 |
10.1% |
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Metallic minerals and
metal products |
21,780 |
6.1% |
47,675 |
11.9% |
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Machinery and
equipment |
11,672 |
3.3% |
4,475 |
1.1% |
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Transportation
equipment |
35,487 |
9.9% |
18,262 |
4.6% |
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Finance and insurance
industry |
67,882 |
19.0% |
168,501 |
42.2% |
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Services and retailing
industry |
28,267 |
7.9% |
47,422 |
11.9% |
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Food, beverage and
tobacco |
38,292 |
10.7% |
10,155 |
2.5% |
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Chemicals, chemical
products and textiles |
33,130 |
9.3% |
12,087 |
3.0% |
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Electrical and
electronic products |
26,522 |
7.4% |
22,329 |
5.6% |
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Construction and
related activities |
10,647 |
3.0% |
7,616 |
1.9% |
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Communications |
7,019 |
2.0% |
12,088 |
3.0% |
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Foreign Direct Investment Stocks by Country
(millions of $) |
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Inward 2003 |
Outward 2003 |
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Value |
Share |
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Value |
Share |
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United States |
228,383 |
63.9% |
United States |
164,874 |
41.3% |
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France |
31,630 |
8.8% |
United Kingdom |
40,703 |
10.2% |
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United Kingdom |
27,066 |
7.6% |
Barbados |
24,690 |
6.2% |
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Netherlands |
15,280 |
4.3% |
Ireland |
18,226 |
4.6% |
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Japan |
9,686 |
2.7% |
France |
11,619 |
2.9% |
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Switzerland |
7,502 |
2.1% |
Bermuda |
10,845 |
2.7% |
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Germany |
7,348 |
2.1% |
Netherlands |
10,658 |
2.7% |
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Hong Kong |
4,731 |
1.3% |
Cayman Islands |
10,619 |
2.7% |
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Belgium |
3,727 |
1.0% |
Hungary |
9,467 |
2.4% |
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Luxembourg |
3,473 |
1.0% |
Japan |
9,123 |
2.3% |
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Rest of the World |
18,722 |
5.2% |
Rest of the World |
88,310 |
22.1% |
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| Investment System |
The chartered banks own the largest investment dealers, which are also the largest underwriters of new securities. Canada has three specialized securities-trading markets. The largest is the Toronto Stock Exchange (TSX). The Montreal Exchange specializes solely in trading derivatives. Shares of mining companies and other junior or speculative issues are generally traded on the TSX Venture Exchange.
Canada 's Export Development Corporation (EDC) provides trade finance and risk management services to Canadian exporters and foreign investors, including loans to foreign buyers, accounts receivable insurance to protect against non-payment, as well as other types of financing products. |
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